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Joint Ownership Definition and Explanation PDF Download

Learn Joint Ownership definition in marketing with explanation to study “What is Joint Ownership”. Study joint ownership explanation with marketing terms to review marketing course for online MBA programs.

Joint Ownership Definition:

  • A joint venture in which a company joins investors in a foreign market to create a local business in which the company shares joint ownership and control.

    Principles of Marketing by Philip T. Kotler, Gary Armstrong

Joint Ownership Explanation:

A circumstance where at least two people co-claim a property. At the end of the day, if at least two people mutually possess a property and one of them passes on, the property does not turn out to be a piece of a decedent's bequest; rather, the different owner(s) proceed to claim the property. A wedded couple may together claim their home, for instance. In like manner, two colleagues may mutually possess a business property. On the off chance that two people possess a high rise and one of them bites the dust, the entire of the complex has a place with the co-proprietor, and not the decedent's beneficiaries. Be that as it may, the decedent's liabilities may stay appended to this property and might be utilized to satisfy banks, regardless of whether the leaser had nothing to do with the property being referred to.

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